BJP spokesperson GVL Narasimhra Rao said Balakrishnan's son inoy Kodiyeri had used "strong arm tactics" of his father to commit the cheating and demanded that he should subject himself to police probe in Dubai.
"It is a major case of financial fraud. Kodiyeri Balakrishnan also has a negative image and had made atrocious comments against the Army," Rao told reporters, and quoted reports to claim the firm had approached CPI(M) leader Sitaram Yechury and Kerala Chief Minister Pinarayi Vijayan as well.
The case, he said, has "shamed" India at a time when its image was flying "high" due to efforts of Prime Minister Narendra Modi.
The BJP leader also demanded explanation from Yechury and Vijayan over the matter.
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